Showing posts with label London. Show all posts
Showing posts with label London. Show all posts

Saturday, June 12, 2010

A fervent love based on a deep fear


Seems some people in Britain are unhappy with Americans' public views of BP. Aww.

“When you consider the huge exposure of British pension funds to BP, it starts to become a matter of national concern if a great British company is being continually beaten up on the airwaves,” Mr. [Boris] Johnson [the Conservative mayor of London] told BBC radio’s Today program.

Prime Minister David Cameron refused to criticize the United States, however, saying he sympathized with its “frustration” in dealing with its worst environmental disaster in memory. But the chancellor of the Exchequer, George Osborne, signaled careful support for BP, saying that he had spoken to its chief executive, Tony Hayward, and that it was important to remember “the economic value BP brings to people in Britain and America.”

BP is the third largest oil company in the world, after ExxonMobil and Royal Dutch Shell, with 80,000 employees worldwide as of last December, sales of $239 billion in 2009 and a market value — even after the recent losses — of more than $100 billion. At a time when Britain is desperate to reduce its deficit, BP is a huge contributor to British tax revenue, paying nearly $1.4 billion in taxes on its profits last year.

Its reputation for reliability and its generous dividends have long made it a favorite of British pension funds. The company’s dividend payments accounted for about 13 percent of the dividends handed out by British companies last year, according to FairPensions, a London-based charity.

The message - BP can do whatever it wants, just don't do anything in response that might hurt anyone else financially. It's like having a crackhouse in your neighborhood and everyone agreeing that is indeed thoroughly a detriment, but hey, don't get rid of it, cause it keeps up foot traffic for the corner store.

This reminds me of people saying how you shouldn't boycott BP stations because the ballyhooed small businessman will get hurt, not BP. That's unfortunate, but the reality of the situation is that when you deal with the devil, you should expect some negative consequences. It's that same mentality - coercing people to still buy from BP.

Here's some "vicious" criticism from some bank fuck:

Iain Armstrong, an analyst at Brewin Dolphin, an investment manager here [in the UK], said that the situation had become “overpoliticized” and had confused the markets about BP’s actual strength.

“It’s gotten completely out of hand,” he said. “Ironically, by being extremely strong financially, BP has become a target.”

Well, no, it's more that they have a big pipe on the ocean floor that is shitting oil and gas into the water at the rate of well over one million gallons per day since April 20th (4/20 bro). It is now June 12th. Long time, yeah? And you see, even though it is a big body of water, like CEO Tony Hayward has said, it's a whole lot of oil. It really is. And the problem with all that is that oil and water still don't mix. I don't know why, I guess oil is stubborn, or maybe water is racist. Then you wind up killing lots of birds, dolphins, fish (I wish Phish as well) and many smaller organisms (though not walruses, seals or sea lions) that are essential for the ocean to function as a source of life, not to mention all those jobs you wipe out. You could put those people to work cleaning up your big mess, but you generally don't, you give those jobs to rich people instead. To conclude, Iain Armstrong has no fucking point. At all.

Finally, we see the most ostentatious and offensive manifestation of this attitude, casting BP as the victim:

Writing on his Web site, a Conservative peer, Lord Tebbit, called the American response “a crude, bigoted, xenophobic display of partisan, political, presidential petulance against a multinational company.”

Yes, Americans are crude, bigoted, xenophobic and partisan, not to mention racist, homophobic, sexist, rude, hostile, selfish and destructive, but they are mostly not political. Poor multinational company with $100 billion value with a $17 billion profit last year. Stop kicking it around, America! It's from another country, so you have to accept it, no matter what! Otherwise you are an asshole! You can't criticize!! Fuck, this sounds like Zionism. Financial Zionism. Capitalist Zionism.

Thursday, April 2, 2009

Property destruction aimed at the state is not violence


I wanted to point that out because so often, in corporate news accounts of events like yesterday's G20 protests in London, the trashing of banks, government offices, multinational corporate locations or other capitalist redoubts is referred to as "violence." It is not. Breaking a window at a bank, spraypainting a police station or smashing up a McDonald's is not violence. Rather, violence emanates from these places.

Banks are the current hotspots of violence. How many people are unemployed, how many people have lost their houses or are on the verge of doing so because of investment bankers gone wild? You know about some of the debacles here, but the economy is global. Nothing that happens in America stays in America. Example:

RBS [The Royal Bank of Scotland] has been the focus of particular anger because it was bailed out by the British government after a series of disastrous deals brought it to the brink of bankruptcy. Still, its former chief executive Fred Goodwin — age 50 — managed to walk off with an annual pension of 703,000 pounds ($1.2 million) even as unemployment in Britain rises from some 2 million.
It has been often reported that the arm of AIG [American International Group] most responsible for their unpleasant financial state is based out of London. Those people are thumbing their noses and waving their pounds at America, refusing to return their bonuses.

When you cannot pay your rent, when your house has been foreclosed upon, when you try to find a job but there are none to be had, that is a direct result of violence.

"Every job I apply for there's already 150 people who have also applied," said protester Nathan Dean, 35, who lost his information technology job three weeks ago. "I have had to sign on to the dole (welfare) for the first time in my life. You end up having to pay your mortgage on your credit card and you fall into debt twice over."
Someone, or rather, a group of people, have done violence to you. How can I say that? Think about it. One of the definitions of violence is "an unjust or unwarranted exertion of force or power, as against rights or laws." Being unwillingly thrown into this economy, the least they can do is guarantee us a right to a job. And we certainly have a right to housing. It's enough that we work for you. The least you can do is give us a place to go at night. But these things are being taken away through deliberate means. They are being taken away because these capitalists are using their power to do so. The people running these institutions don't give a FUCK about those below them or how their actions affect the world. Money money money.

And the police, come on. They are violence incarnate. The only way they have any power is due to their monopoly on legal violence. When a cop tells you to move, you do it. Why? If not, you'll get shoved, hit, pepper sprayed or tasered. Violence. I do not believe that most people obey police out of respect. It's fear. Fear of violence.

Their physical violence, that's only the first step. Then they haul you off to jail, coerce you into paying bail money, extort court fees and fines and forcibly retain you in a prison. That's violence. If someone who were not a representative of the government ran you through a similar process, it would be felony kidnapping.

Property destruction can be violent though, but really only the other way around. When the police come in and trash your house, when they bust up your means to earn a living, that is violence. Most people don't have a way to easily replace those things. When banks that make billions a year and throw their executives seven figure bonuses take your house from you and leave you with nothing, that is violent. They send the police in to make sure you leave.

A window in Starbucks though, fuck. I do not have a way to quantify the financial insignificance of that. That company pulled in $10.4 billion last year. A broken window is far, far less than the equivalent of a penny to me. For fuck's sake, their insurance covers it anyway. And McDonald's? It drips with violence - against the planet, animals, and workers forced to take their shitty fucking jobs for no money out of desperation.